Understanding Loan Terms

• Why An Adjustable Rate Mortgage Might Be Right For You

  25 July 2018

  If you are buying a house and plan to sell it within five to seven years, you may want to consider getting an adjustable rate mortgage (ARM). This type of mortgage has an interest rate that changes, but you will be locked in for a set amount of time. Here are several things you should understand about ARMs. They often offer the lowest rates. One thing people care about a lot when shopping for a mortgage is the interest rate on the mortgage, as the interest rate controls the payment amount and the amount of the total loan when paid in full.

• Reasons To Choose A Shorter Car Loan

  24 July 2018

  As you set out to purchase a new or used car, you probably will need to get a car loan to make this happen. Car loans are not overly difficult to acquire, but there are a lot of differences with the loans you can choose from. As you begin looking, you may want to consider getting the shortest loan you can afford to pay instead of a longer loan, and here are several reasons for this.

• Downsizing Vs. A Reverse Mortgage: Which Is The Right Choice For You?

  24 July 2018

  If you need cash in the bank for your retirement, you may be wondering whether downsizing or a reverse mortgage might be the right choice for you. Downsizing will let you sell your existing house and purchase a new house (or condo) in its stead, while a reverse mortgage is like a loan that you take out against your house. Here's how you can decide on which is the best option.

• Want to Refinance And Borrow on Your Home? Tips and Broker Options

  24 July 2018

  When you have equity built up in your property it is common to borrow money and refinance on the home. This is kind of like borrowing money from yourself, but it isn't always easy to find a bank that likes to offer mortgage refinances. Here are some of the things that you want to do so that you can be smart about refinancing the property, and to find the best bank and refinance mortgage provider for your needs.

• Three Reasons To Apply For An FHA Loan As A First-Time Home Buyer

  23 July 2018

  If you are thinking of buying your first home, one of the most important decisions you will need to make is what type of mortgage to apply for. There are conventional mortgages, VA mortgages -- and a favorite of first-time home buyers: the FHA loan. In many cases, an FHA loan is the best choice for a first-time home buyer. Here is why. 1. You don't need as large of a down payment.